KINGSTON, ON, April 11, 2014 /CNW/ - Murgor Resources Inc. (TSXV: MGR) ("Murgor") announced today that it has entered into an Agreement to sell a 1% NSR royalty from Cartier Resources Inc. (TSXV: ECR) ("Cartier") on the Benoist property.
On March 24, 2014, Murgor notified Cartier that it had received and accepted an offer from Gold Royalties Corporation to sell its 1% NSR Royalty interest in the Benoist Property in an all-share transaction for a value of $75,000. The sale to Gold Royalties Corporation was subject to a right of first refusal to purchase the same 1% NSR by Cartier. (see Murgor press release dated April 7th, 2014)
Cartier has notified Murgor that it is exercising its right of first refusal in respect of the Royalty in an all-share transaction for a value of CDN $75,000.00. An aggregate of 500,000 common shares of Cartier will be issued to Murgor at a price of $0.15 per share ($75,000).
Closing of the Acquisition is expected to occur on or before April 14, 2014 and is subject to the execution of a definitive agreement and the approval of the TSX Venture Exchange Inc.
About Murgor Resources
Murgor Resources Inc. is a mineral exploration and development Company focused on gold and copper exploration in Canada. The company owns a 40% interest in the Golden Arrow Gold Mine in Ontario and a 100% interest in two gold-copper deposits in the Snow Lake and Flin Flon mining districts of Manitoba. The Company further owns an exceptional portfolio of gold properties in proven mining districts of Canada.
This news release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Murgor, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Murgor's expectations are exploration risks detailed herein and from time to time in the filings made by Murgor with securities regulators.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE VISIT MURGOR'S WEBSITE AT WWW.MURGOR.COM OR CONTACT:
SOURCE: Murgor Resources Inc.
For further information: André C. Tessier, President & CEO, MURGOR RESOURCES INC., Tel: (613) 546-7503 or 1-888-891-3330, E-mail: email@example.com